Observed Signal · Oct 2, 2026 · Earnings Report · Source: CNBC Investing · Impact: 2/5 · Sentiment: Positive
Goldman Sachs Adds Amazon to Top Picks for October
Goldman Sachs has updated its 'U.S. Conviction List — Director's Cut' for October, adding five buy-rated stocks: Amazon, Burlington Stores, Huntington Ingalls, Johnson Controls, and Occidental Petroleum. The investment bank removed Air Products and Chemicals, ConocoPhillips, Golar LNG, Loar Holdings, and Tyson Foods. For Amazon, analyst Eric Sheridan highlighted structural and cyclical growth drivers, including AI-driven demand for AWS, improving e-commerce profitability, and advertising growth. The price target is $375, implying over 50% upside. The other additions include Huntington Ingalls (target $439), Burlington Stores (target $382), and names with specific catalysts. Goldman cites attractive entry points after recent underperformance for several of these stocks.
While the article focuses on stock picks, it mentions Amazon's advertising growth and AI-related AWS demand, which are relevant to the AdTech industry, but the core is financial analysis, not a direct adtech event.
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Key Takeaways & Evidence Grounding
- Goldman Sachs added five stocks to its U.S. Conviction List for October: Amazon, Burlington Stores, Huntington Ingalls, Johnson Controls, and Occidental Petroleum.
- Amazon price target set at $375, implying over 50% upside from Thursday's close.
- Analyst Eric Sheridan cited AI-related AWS demand, e-commerce profitability, and advertising growth as key drivers for Amazon.
- Huntington Ingalls price target $439, implying 60% upside; stock down 20% year-to-date.
- Burlington Stores price target $382, implying nearly 40% upside; stock down 13% in the past three months.
Connected Companies & Entities
3 Entities mapped“Goldman Sachs refreshed its list of top stock picks for October, adding five buy-rated names to its roster....”
“Amazon.com Analyst Eric Sheridan said Amazon is at the crossroads of structural and cyclical growth with margin expansion to boot....”
“Burlington Stores Burlington is another name on Goldman’s list....”
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